The price of fuel is one of the largest expenses for commercial carriers—and one of the most volatile.
Diesel is by far the primary fuel type for heavy-duty vehicles, powering 97% of Class 8 trucks in 2022, according to research by the Engine Technology Forum.
The price of fuel, particularly diesel, is subject to a complex and ever-changing supply chain. Diesel prices jumped up and down by 20% over a few months in 2023 alone, thanks to innumerable shifts in supply and demand.
